 |
 |
||||||
[November 2004]
Superconductive Components Third Quarter
Superconductive Components Inc (Columbus, OH, USA) saw total revenues decline 25.9% to US$450,838 for the third quarter 2004 from the same period last year. Product revenues declined 25.2% and contract research revenue was down from US$119,020 to US$84,766, the latter due to a change in the focus of the primary company awarded a grant from the US Department of Energy's Superconductivity Partnership Initiative. The company's participation in this program ended in September 2004. The company continues work on Phase II Small Business Innovation Research grant to develop an advanced method to manufacture continuous reacted lengths of High Tc Superconductor Bismuth Strontium Calcium Copper Oxide - 2212 Wire.
Chairman, President and CEO Dan Rooney commented: "We are disappointed in our results for the third quarter. Initial signs of improvement weakened during the quarter resulting in the decline in product sales while contract research revenues were also below the same period last year.
"Product orders improved in the final month of the quarter and should contribute to higher sales from current levels in the first quarter of 2005. Specific measures have been implemented to reduce future costs. Sales and marketing continue to receive added emphasis to increase the company's market penetration and expand our customer base."
ENDS